Planning to enter into Indian manufacturing industry? Looking for the best manufacturing business ideas? If yes, then this is the right place for you!
Indian manufacturing industry is a major pillar of the economy, contributing to 18% of the country’s GDP. As per the government reports, the manufacturing industry in India is expected to become USD 1 trillion by 2025. Indian manufacturing sector has so far been successful in attracting FDIs into the country. However, for India to become a global manufacturing hub, emphasis must be placed on encouraging domestic MSMEs and new-generation entrepreneurs to enter into manufacturing.
In the wake of Covid-19 pandemic and recent border tensions with China, there is an increased sentiment among the people of India for indigenous goods manufactured in the country. The government has also announced a detailed action-plan to boost domestic manufacturing in the country by providing incentives to entrepreneurs willing to enter into the manufacturing sector. Considering the positive sentiment for indigenous products in the domestic market, it is the best time for businesses to enter into the manufacturing industry.
Helping new entrepreneurs in the country enter into the Indian manufacturing industry, we have come up with a list of top 10 profitable manufacturing business ideas in India.
1. Toys Manufacturing
India is one of the largest toys markets in the world; however, most of India’s toys demand is being met by imports by China. Realizing the huge demand and shortage of domestic supply, the government of has pushed for indigenous manufacturing of toys. Several state governments such as Karnataka, Gujrat, etc. have also announced setting up toys clusters to provide a leg-up for toys manufacturing in their states.
Read more about Opportunities in the Indian Toy Manufacturing Industry
2. Sanitizer Manufacturing
India is one of the most affected countries of coronavirus in the world. The recent Covid-19 outbreak has resulted in huge demand for sanitizers in the country. With growing health awareness among the people, the demand for sanitizers is going to increase in the country. Taking into account India’s huge rural population, the price of the final product can be a deciding factor in the rural markets. Manufacturers must device innovative marketing strategies to educate rural India about the importance of sanitizers in our day to day life.
3. Mask Manufacturing
Mask manufacturing is another niche segment with huge potential for growth in the Post Covid-19 era. The growing air pollution due to heavy vehicle usage and rapid industrialization in the urban areas across the country will also drive the demand for face masks in the country. Apart from normal face masks, surgical masks that are generally used by healthcare professionals is an area with great scope for exports.
4. Mobile Accessories Manufacturing
India is one of the largest smartphone markets in the world. With the growing usage of mobiles, the demand for mobile phone accessories is increasing in the country. Mobile accessories include several items such as earphones, mobile covers, screen guards, chargers, dongles, memory cards, batteries, power banks, Bluetooth speakers, etc. Given the presence of a large number of players in the industry, quality plays a very prominent role in the mobile accessories manufacturing business.
5. Candle Manufacturing
Candles are one of the few products with evergreen demand in countries like India where majority of the people are involved in religious activities in one way or the other. Candles are used not just in religious activities but also in celebrations, ceremonies, etc. as a symbol of celebration and joy. Apart from the conventional candles, luxurious candles is another product segment with good demand and low competition, that manufacturers can look into.
6. Textile Manufacturing
Textile is one of the oldest industries in India. Indian textile industry has huge scope for exports with India currently contributing to a mere 5% in the global textile trade despite being the largest producer of cotton and jute in the world. With an objective to increase India’s share in the global textile trade, the government has recently announced a new brand name and logo for Indian cotton which will be henceforth called as ‘Kasturi Cotton’ in the international market. This move is expected to help textile manufacturing businesses in the country to get premium prices in the global market.
7. Furniture Manufacturing
As the life standards of people in the country is rising, the demand for furniture has been increasing in India over the past few years. The furniture market in India is expected to register a 5% percent growth in next three years, with foldable furniture contributing to major share of the market. Furniture includes various products such as tables, chairs, cupboards, cots, cabinets, etc. which are essential in every home or office. So, furniture manufacturing is one of the most profitable manufacturing business ideas in India in the years to come.
8. Leather Manufacturing
Leather is an essential raw material for various products such as handbags, wallets, footwear, jackets, which are always in demand. With growing middle class and urban population in the country, the demand for these products is going to increase which in turn will increase the demand for leather. So, leather manufacturing is a viable manufacturing business idea.
9. Paper Bag Manufacturing
Several government authorities at various levels across the country have imposed ban on the usage of plastic bags to minimize the usage of plastic. This has increased the demand for paper and eco-friendly bags in the country dramatically. Paper bag manufacturing is not so difficult process and require minimum capital investment to start the business. Businesses must focus innovative product design and quality to have an edge over peers in the market.
Read more about How to Start Paper Bag Manufacturing Business in India?
10. Agarbatti Manufacturing
Agarbattis are an essential item in majority of the Indian households if not all. Agarbattis are primarily used for devotional purposes. Agarbatti manufacturing is one of the best manufacturing business ideas with low investments as it requires very few raw materials to manufacture agarbattis. The Ministry of MSME has recently announced to setup 10 agarbatti manufacturing clusters and will provide 400 agarbatti making machines which would benefit 5,000 agarbatti making artisans in the country.
To know more about the best manufacturing business ideas in India and how to start the business, kindly register with SolutionBuggy, India’s largest manufacturing consulting platform with more than 8,000 manufacturing consultants and 60,000 industries. We provide you access to verified manufacturing consultants who can help you decide on which manufacturing business to start. As a thought leader in the manufacturing sector, we assist you to successfully venture into the manufacturing business by addressing your complete requirements right market research, funding, plant setup to R&D, product ideation, product development, technology adoption, marketing and sales. Till date, SolutionBuggy completed more than 1350 manufacturing consulting projects for its clients spread across the country.
To get a quick idea about how SolutionBuggy can help you, have a look at the following case studies:
An enthusiastic entrepreneur based out of Bhubaneswar, Odisha was planning to foray into the manufacturing industry and was looking for the best manufacturing businesses ideas. Being an experienced person with exposure to industry, he had idea about potential business opportunities in the Indian manufacturing sector, but he was not sure about which manufacturing industry to setup. He approached SolutionBuggy to provide him with the profitable manufacturing business ideas and help in deciding the niche. SolutionBuggy with the help of its expert manufacturing consultants had given him a detailed report on profitable manufacturing business ideas along with region wise business opportunities. After examining the report, he had decided to setup the food processing plant and start the manufacturing of health and fitness related food products. SolutionBuggy helped him setup the food processing plant and start the product manufacturing at his chosen location.
A company that is into FMCG was in plans to diversify its business and enter into the manufacturing industry. The company was looking for an expert consulting firm who can provide them with best manufacturing business ideas with a medium budget. SolutionBuggy provided them with a wide range of manufacturing business ideas and allowed them to decide as per their interests and budget. SolutionBuggy also provided them with a project report that looks into market analysis, product line, demand-supply gap of various businesses. The company had decided to go with mobile accessories manufacturing and wanted to setup the manufacturing plant. SolutionBuggy helped them successfully setup the manufacturing plant and start the manufacturing of mobile accessories such as cables, chargers, Bluetooth speakers, earphones and ear pods. Now the company is able to successfully manufacture, market and sell their products across the country.